CarDekho Group invests in fleet management services company Carrum
The autotech and finance solution platform hopes to expand its mobility portolfio through its investment in Carrum.
CarDekho Group on Tuesday said that it has invested in fleet management services company Carrum to help drive its mobility portfolio.
Founded in early 2024 by Karan Jain, who is the ex-founder of Revv, Carrum has scaled to over 500 vehicles across Bengaluru and Hyderabad.
CarDekho had acquired Revv in 2023 in a bid to enter the shared mobility space.
“This investment comes at the perfect time for us and after the initial set-up phase, will now allow us to start scaling up rapidly. With a strong partner in CarDekho, we can leverage the strength of the group to continue to innovate and expand our service offerings within the mobility sector. We are very focused on improving the lives of our driver partners which can benefit significantly by having CarDekho as our partner, to create long lasting impact at scale,” said Jain.
The company added that it is already profitable and cash flow positive and plans to scale to over 2,000 vehicles across all major cities before the end of FY25.
CarDekho Group, which is currently valued at $1.5 billion, according to the company, operates companies in Insurtech through InsuranceDekho, Fintech through Rupyy, and content portals such as CarDekho.com and BikeDekho.
“As we build a comprehensive ecosystem of mobility solutions, our focus remains on reducing the carbon footprint across Indian cities while empowering the mobility needs of Bharat 2.0. Our investment in Carrum is not just about growth and expansion; it's about responsibility, innovation, and making a lasting, positive impact on society and the environment,” said Amit Jain, Co-founder and CEO of CarDekho Group.
(Disclaimer: The story was updated to reflect a correction as requested by the company)
Edited by Megha Reddy